About your Search

20121201
20121231
Search Results 0 to 14 of about 15 (some duplicates have been removed)
minister mario monti, yes, the same one that is famous from all the anti-trust things back in the -- was that the '90s? >> the '90s, yeah. >> monti announcing he'll step down before his term ends. the decision comes after the party of sylvia berlusconi withdrew support for monti's government last week. berlusconi has indicated he will run for leadership again. cnbc's carolin roth will join us from italy with the latest in a few minutes. when i was over there, i had to have the -- all the political signs translated because there's a picture of monti sitting under a beach chair drinking a drink and all the text was send monti to the beach. they already didn't like him. >> he had very high disapproval ratings. i remember last summer i had seen that somewhere. >> they want to send him to the beach. the major european averages at this hour, there they, they're all down. not great in france, but germany down about .7% and the ftse down fractionally. other news out of europe, debt tieback for from an day to receive additional buyback offers. those would be at deeply discounted pri
. >> so here's italy. silvio berlusconi. your intro was about mario monti which is all true. silvio berlusconi, the former prime minister of italy -- >> my favorite. >> thank goodness for silvio berlusconi. >> look at his hair. what is he, 76? >> 76. he just sat down with cnbc italy over the weekend. silvio berlusconi says he does not want to run for prime minister, but, he is obligated to, because the country needs him so desperately. he is the only one that can bring together 40% of the people who vote for him, so that way the left does not control italy. >> he could not get 40%, could he? or could he? >> i don't know if he could get 40%. he thinks he can get more than anybody else. >> really? >> yes. >> now the question is, 40% isn't enough once you're in a parliament, right, because of a parliamentary system and two other parties that used to support him no longer do. it's not clear what they would ultimately do, would they really link to the left? it's hard to say. more than italy, remember, they would never agree with this, but they're far more dramatic than southern italy. >>
at a weaker pace. the planned resignation of italian prime minister mario monti weighing on the european markets this morning. he said he will step down as soon as the 2013 budget is approved. that's because berlusconi. it's been said a couple things this morning, that italy is now the problem child in europe, more than greece, more than spain. but conversely, china, if gdp is coming back, they are in what many consider to be a sweet spot. >> the numbers came out saturday for china. i think italy has been remarkably good. so this was a big game changer. italy had been a part of the good story of european recovery. now it's back. >> all to monti was never intended to be there for the long term. >> sure. >> in fact, he may be leaving a month earlier than originally planned. this should not be a surprise in the larger context. while we may mention berlusconi's name right now, he's not expected to win. >> look, we knew that monti was successful. >> it may be whoever follows him is going to roll some of the gains that he's had. so-called gains. >> that's going to cause ripples here. look, on
because spending cuts are not working out for italy's government. prime minister mario monti announced he would resign after losing support over his austerity moves. a return of political instability there reminds us that europe still faces a lot of hurdles before it comes out of its economic crisis. countries like greece, spain and italy have been tackling their problems with sharp cuts in spending and higher taxes and that's been fueling recession and unrest. meanwhile, we now know that japan officially slipped into its own recession over the summer with the japanese economy contracting 3.5% between july and september. now, the previous quarter, the previous three months number was also revised lower and that makes for two consecutive quarters of negative growth and that's the classic definition of a recession. from asia, back to america, literally, a group of chinese investors agreed today to buy an 80% stake in aig's aircraft leasing business. back in 2008, the insurance giant was bailed out by the u.s. government to the tune of $180 billion. four years on, still paying back the money
interesting. >> meanwhile, european markets are down and because the italian prime minister mario monti m a surprise. is going to resign. and silvio berlusconi wants to replace him. europe is appalled. and people blaming the recession for not having more children. 64 births for one thousand women of child bearing age. half of the peak of the baby boom in the 1950's. our next guest has six children, counts them. and what's that-- >> and naham segal. that works. >> have i got that word? >> and light tte candles. >> if you light them i will come. >> you have six children. >> as do you. >> leave me out of this. >> and others people say they can't afford it you're saying it doesn't matter if you can afford them or not. >> if the price tag of having a child scares you the most, you haven't done the right gut test. stuart: so, go ahead and have the children whether you can afford them or not. >> having children is the investment in the future. if we don't have children now and understanding in the short-term there are obviously economic hardships going on, it is classic then in an economic down
's happening with italian politics. of course, mario monti saying he was going to resign as italy's prime minister. that paves the way for flesh elections to be called in the beginning of next year. yesterday, we saw the negative reaction. sylvia berlusconi wants to make his return on the political scene. today, we saw a bounce back. if you can see see bind me, the bank stocks in italy rerebound, but it's only in the range of .5% to 1% of these names which were down in some cases nearly 10% yesterday. if you take a quick look at european bourses, if that's possible, down near the ftse mib, this is the one selling off somewhere in the range of 3.5% yesterday. today it's adding about .8%. in spain, showing a nice rebound. same attitude listing peripheral debt. we can take a look there. italy and spain seeing prices rise, yields falling to 4.75% and 5.75% respectively. is investor attention returning to spain? here is the thing. italy is the third biggest government debt market in the world. it's the third biggest economy in the eurozone. whatever happens with its political situation could p
and withdrawing support from mario monti. this may lead to midterm elections because monti is market friendly you might not end up with a market friendly solution. we thought we'd have elections march/april, there's the prospect it could be a snap election much earlier perhaps in the new year. now the good news is there isn't a huge amount of blowout on the bonds at the short end of the italian markets. the yields are higher but not huge relative to where we've been but on the ten-year italian market you can see we're slightly higher but no great shakes overall. it means the rally in the peripheral bond market we've witnessed in italy and spain has now stalled at this stage. remember we had the auction in spain yesterday and the yields are slightly higher relative to where we've been, they're still relatively depressed. we talk about the problems in europe, i thought it was worth pointing out amidst all the malaise what is happening in germany today an astounding manufacturing german manufacturing orders result from germany up 3.9% in october, a phenomenal performance from german industry and it'
the tone for the week here. they're down after super mario monti announced an early resignation as italian prime minister. >>> the fiscal cliff for payroll processors is not 22 days away. it's 4 days away, december 14th to be exact. millions of small businesses do their own payroll, and they're preparing now for the paychecks for the first week of january. right now they have no idea how much to hold back for social security taxes and the expiring bush tax cuts. the american payroll association urging congress to make a deal on the cliff saying, quote, a delay in legislation beyond december 14th doesn't give all businesses enough time to update and test their payroll systems for early january paychecks. >>> and in today's smart is the new rich, should you pay tuition based on which major you choose? the governor of florida rick scott considering it. a task force appointed by governor scott wants students to per sue so called s.t.e.m. majors against less in demand majors like history, philosophy, or english. the idea is to steer students to where there's the most need. liberal arts professi
an appreciative audience in rome he'll denounce the policies of his successor, mario monti, and his management of the current economic crisis. after decades in italian politics, this 76-year-old businessman appears rested and ready for a fight. tan and fit not and a gray hair on his head. he's not without troubles of his own. he's appeals a kwixz for tax evasion and on trial for allegedly having sex with a minor, a now of age moroccan dancer known as ruby, the heartbreaker. belusconi is in and monti will soon be out. he's step down as soon as parliament passes its 2013 budget. stepping down doesn't mean he's stepping out. many here speculate he's simply preparing to take off his mental and don that of a politician and run himself for the premiership in elections early next year. monti's policies of tax increases and spending cuts have sparked widespread protests, but many other italians think such tough measures were unavoidable says this professor. >> while there is concern, while there is resentment, while there is worry about future, i think there is a rather widespread agreement that what
go with the resignation of mario monti. greece is higher. por sh gal is higher. spain is higher. it's a good day for -- investor sentiment.strongly it was revealed today. optimism over what the fed is going to do in the united states tomorrow. optimism there will be a deal on the fiscal cliff. you have optimism that the recapitalization of the banks is going to be delayed by another year according to the bank of italy. and you have optimism as well on mar of election promises as we now face the pros wekt of a much earlier election in italy. to that end it is fascinating. sylvia berlusconi has come out today warning about the germano center of politics. in other words, too much of a focus on what is happening from germany and the austerity inspired by angela merkel. in particular, he is drawing attention to this. which is the spread of the extra that investors demand to hold italian bonds over german bonds. i've shown this to you a couple times. over the last year it's been a mainstay of a lot of the italian business broadcasts internally. they say our bonds are currently trading so
. meanwhile, also worth mentioning that, after the sell-off we got on italian debt, where mario monti said he would resign over the weekend, today italy successfully went through an auction at the one-year level of debt. and you can see where people have viewed monday's sell-off as a huge opportunity. so the yields are heading down on the ten-year. just before i give you back to carl, i wanted to hand you a piece of research from goldman sachs. they have looked at what the eurozone crisis cost america in terms of growth. at the beginning of the year, they suggested they could knock 1% off potential gdp. and now they say they knocked three-quarters of a percent off growth here. half a percent was due to a general tightening of financial conditions. it's a very complicated set of calculations to get to that, but they have. half a percent of american growth is a result of weaker exports to europe. and the final thing that i think is very interesting. they say there's been a negligible impact on america due to what banks might be doing here. in other words, the european banks in new york, in bost
in italy. >> it's an all-italian version of the european close right now, carl. mario monti, contrary to reports last week that he did not want to run for prime minister again, we now hear he's undecided, and may actually run for p.m. of the country. right now he serves technocratically. there's expected to be an election early next year, maybe in february or in march. he has told reporters that he's considering it. the cabinet member he spoke with earlier in the week said he's going to make an announcement sometime this week on television. when asked by reporters about his recent visit to the tomb of saint francis he said he did, indeed, pray there to help him make a decision about whether or not to run. a man eagerly awaiting monti's decision is silvio berlusconi, the former prime minister of italy. we're pretty sure he has not prayed at the tomb of st. francis lately. he has said that he devil wants to be run for prime minister again however at the same time he's also made noises that suggest that he wouldn't run if monti runs. that's not set in stone. we're going to see what happe
in the united states obviously with the fiscal cliff. in europe, all about mario monty, kicked off on friday when he resigned. he then said on sunday he'd work with coalition partners. on monday he laid out what he'd like his agenda to be. today, he is negotiating with other potential allies. two big questions come out. one of, what will the clash with silvio berlusconi be? he said his economy was crippled and said the right would abolish property tax rises. the second more interesting question is whether or not monty in the game means the election result in february will be a less strong coalition to enact reform, which is clearly where we hope they will go as in keeping -- trying to keep the investor sentiment going. in rome, they actually auctioned 12 euros of bills. all the politics with berlusconi not really affecting the market. yields are low, confidence still in there. some italian banks rose on the back of that. not huge moves. you can see bpms, up 2.2%. in the center of europe where it was concentrated, other banks moved higher. i'll show you those, lloyds, in the netherlands. and
Search Results 0 to 14 of about 15 (some duplicates have been removed)